China to set national blockchain standard by 2019

According to Economic Information Daily report on Thursday, China is scheduled to set national standard for blockchain as soon as end of 2019.

Citing Li Ming, an official on the blockchain at the Ministry of Industry and Information Technology, a working committee has been set up and a plan to develop the standards has been announced.

The content will include basic standard, operating and applying standard, processing and method standard, and information security standard, and the standard’s applicability will further expand, Li added. Blockchain standard will guide the technology to develop, Li Ming said.

China now owns more than 200 international patents on the blockchain technology.